Waverton Investment Management Ltd Acquires 20,085 Shares of Pinterest, Inc. (NYSE:PINS)

Waverton Investment Management Ltd raised its holdings in Pinterest, Inc. (NYSE:PINS) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,555 shares of the company’s stock after purchasing an additional 20,085 shares during the period. Waverton Investment Management Ltd’s holdings in Pinterest were worth $6,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Hexagon Capital Partners LLC grew its holdings in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC grew its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares in the last quarter. Rothschild Investment LLC bought a new position in Pinterest in the 2nd quarter valued at about $35,000. International Assets Investment Management LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at approximately $40,000. Finally, Quent Capital LLC raised its position in shares of Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PINS. Wedbush decreased their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. Barclays dropped their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Raymond James decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, UBS Group dropped their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.65.

Pinterest Price Performance

Shares of PINS stock opened at $30.80 on Friday. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The business’s 50 day simple moving average is $35.83 and its 200 day simple moving average is $37.27. The stock has a market capitalization of $21.13 billion, a PE ratio of 146.67, a PEG ratio of 3.57 and a beta of 1.00.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,689 shares of company stock worth $1,628,002. Company insiders own 7.11% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.